FCA launches Consumer Duty Survey
March 17, 2023
The FCA has launched their Consumer Duty survey to understand the progress firms are making in implementing the Duty. The survey, which will be carried
Category: News
Are you ready for your Consumer Duty review April deadline?
March 15, 2023
Although the final Consumer Duty deadline is July, there has been some key milestones, including an interim deadline of 30th April 2023 when firms need
Lessons learnt from the recent financial crime fines issued by the FCA
March 2, 2023
It has been noted, that in 2022 the number of regulatory enforcement powers exercised by the UK’s Financial Conduct Authority (FCA) increased. Fines issued by
[Infographic] Financial Crime: 2020-2022 Compliance Report
February 28, 2023
In December 2022, HM Treasury published the “Anti-money laundering (“AML”) and countering the financing of terrorism (“CFT”): Supervision Report 2020-22”. The financial crime report provides
Implementing the Consumer Duty in payment firms – A letter from the FCA
February 23, 2023
With only five months before the Consumer Duty comes into force, the FCA has issued a letter to payment firms about the need for them
Has your business started planning for the Consumer Duty?
February 3, 2023
The FCA highlights focus areas for firms in implementing the Consumer Duty With only 6 months till the implementation deadline for the Consumer Duty regulation,
Recent changes to the reporting threshold under the UK Suspicious Activity Report (SAR) Regime
January 18, 2023
Last week, the threshold for reporting a Defence Against Money Laundering (DAML SAR) changed from £250 to £1,000 in the UK, relevant to banks, deposit
FCA fines Guaranty Trust Bank (UK) for AML failures – what are the lessons learnt?
January 13, 2023
The Financial Conduct Authority (FCA) has fined Guaranty Trust Bank (UK) Limited (GT Bank) £7,671,800 for serious weaknesses in its anti-money laundering (AML) systems and
The FCA asks for feedback on its Quarterly Consultation Paper
January 12, 2023
The FCA held discussions with regulated firms across different industries since they published the final Consumer Duty rules in July 2022. The watchdog identified a
The FCA updates its Consumer Duty page with some key topics
January 11, 2023
The FCA updated their Consumer Duty page to include additional content on some of the key topics they have been receiving queries on. These include